Credit Card Rewards Points

Apparently, he and his family plan to use the points to travel for the rest of their lives, which is a definite perk, though probably not why they made the decision.

When I bought paint at Home Depot recently (is there is a big difference between a glorious Modigliani nude and 5 litres of discount primer?), I thought about the rewards points. Like many people, we have a couple of credit cards. When you’re making lots of purchases, and not planning to carry a balance, where can you get the most bang for your buck?

I drew up a quick comparison:

Card

RBC Rewards Visa Gold

Signature RBC Rewards Visa

PC Financial World Mastercard

Annual Fee

0

$39

0

Points by Spend Charge

1 point for every $2 spent

1 point for ever $1 spent

10 pc points per $1

Points Redemption

14,000 points will get $100 gift card

14,000 points will get $100 gift card

20,000 PC points equals $20 in groceries

Flight Redemption

50,000 points = $500.00 in flights

50,000 points = $500.00 in flights

If I Spend $100, I will have

50 points

100 points

1000 points

For that $100, I will get

$0.35 towards certain vendors

$0.71 towards certain vendors

$1 in groceries

Or for travel

$0.50 towards travel

$1 towards travel

My takeaway: wow, you have to spend a lot of money to get $500 in rewards points.

But also: PC Groceries for the win!

You can read more on Canadian credit card rewards points in Moneysense.